Free Republic

But is that actually a good thing?Retiring on Social Security alone is a dangerous thing. That’s because those benefits will only replace about 40% of the typical worker’s pre-retirement income, and most seniors need about twice as much money to maintain a comfortable lifestyle.But the reality is that a lot of people do end up retiring solely or largely on Social Security. And it’s those same people who are apt to be the most impacted by Social Security raises.Each year, benefits are subject to a cost-of-living adjustment, or COLA, based on inflation levels. Since inflation has been sky-high this year,...

Most conservatives recognize the federal government faces enormous fiscal problems—both a large overhang of debt from spending in years past, and sizable deficits forecast for the years to come. But what to do about it?While spending on things like earmarks and Congress’s failure to right-size spending when passing tax relief have worsened our fiscal woes, at bottom the United States’ financial shortfalls stem from unsustainable entitlements: Obamacare, Medicaid, Social Security, and Medicare. These programs comprise a large, and growing, share of the federal budget, particularly as the Baby Boom generation retires.In the immediate future, President Joe Biden and his Democrat...

The Russian president, Vladimir Putin, has declared that he is withdrawing the majority of Russian troops from Syria, saying the intervention had largely achieved its objective. The news, relayed to the Syrian president, Bashar al-Assad, personally, followed a meeting in the Kremlin with Putin’s defence and foreign ministers. He said the pullout, reducing an intervention that began at the end of September, is due to start from Tuesday.

The following institutions, grouped by state, boast perfect scores using a method developed to diagnose failing banks. ### The relationship Americans have with their banks used to be based on trust. As well it should be. In many ways, banks make some of our biggest financial dreams come true. We go to the bank when we want to buy our dream home, and again when we remodel the kitchen. Our bank helps us buy that great new car we've been thinking about. When we retire, the bank turns a lifetime of savings into income by paying us interest on money-market...

Of the 7,800 bonds in the U.S. secured by state or local governments, only 25 are currently speculative-grade, or junk-bonds, rated by Moody’s Ba1 or lower. Only municipalities received such low ratings, and the reasons vary. Moody’s report, “A Look at Speculative-Grade Local Governments in the Wake of the Recession,” details the economic issues that have lead each into junk-bond territory. 24/7 Wall St. has analyzed the nine worst cities, whose credit rating is Ba2 and lower. Each of these municipalities faces a unique situation, Moody’s explains, and the list is not indicative of a greater trend. Most municipalities, Moody’s...

Tennessee’s Health Department says it will have to stop funding safety-net clinics to deal with the state’s constricting budget. Health Commissioner Susan Cooper says such clinics provide uncompensated care to those who can’t afford it and lack insurance. During state budget hearings Monday, Governor Phil Bredesen asked if other cuts were possible instead.

The way Dave Doerr sees it, California's elected leaders ran for the wrong offices. "They really ran to be Santa Claus, and made a mistake and filed for the Assembly and the Senate," said Doerr, the senior tax consultant for the California Taxpayers Association. Doerr's reference is to a penchant of lawmakers and governors over the past three decades to spend whatever money they have on hand - and promise even more - then let succeeding budget drafters fend for themselves. "They provide what I call the 'free lunch syndrome,' " said Doerr, who closely observed Capitol life as a...